We are halfway through the trading day from one of the final trading days of the year. Abigail doolittle is with us. We got a huge tax overhaul today, but the market already knew that. Abigail yes indeed. Small declines. We do have the news of the taxcut bill being signed today, put into the law of the land. On this, very small declines. Atestors are looking past it this point, having priced it into some degree already. At gains, not huge gains, but were looking at gains. This is where we are seeing bigger action, some of the alternatives, fiat currencies. Bitcoin, we cannot get away from the bitcoin story. Down 17 . Earlier today at one point come down 30 . Bear market in one day. Tremendous volatility, the worst day since 2013. Bitcoin did come into existence in 2009 as an alternative to Financial Institutions after the financial crisis. Other alternatives to be fiat currencies, gold and silver. Even though the dollar is higher typically you dont see that. Interesting to see all of t
30 minutes away from the end of the session. Stocks are rising after the biggest weekly increase in two months. Sterling biggest weekly gain last week since 2009 against the dollar. Day after the referendum last year. Bond yields are gaining. Commodities is your final column. Ryanair shares are down today. Its scrapped 82 flights on sunday the start of a sixmonth as itm of cancellations seeks to reduce its backlog of crew vacation required by irish regulators for the end of the year. Ryanair will offer refunds to affected customers adding that the cancellations which amount to about 2 of its network wont have an impact on earnings in september and october. Shares lower today. What a run copper has had this year. 23 so faras climbed this year through august. Stockpiles spiked almost 16 last week. Sending the price down into a downward spiral. Some pressure will continue. Point 3 s fallen five since rising to a threemonth high on september 4. Russias ruble bonds are on the weeks. Llying
We had these purchasing managers indices out of china. Gauge, fiveyear highs the unofficial passion days,n manufacture slipping to 51. 6. The prithe deficit that has from the official one. We have some of these large firms distorting things. Large firms are feeling bullish. So. L firms less tailored toa move shore up the economy. Pboc announcing it will reduce the amount of cash the banks must hold in reserve. The economy where it has been scarce. Its not the only pmis we have had. The few places in asisa, asia, the markets are trading. Most closed for a public holiday. Pmi in japan. Haidi we had the pmi data from the nikkei business morning. We had japanese stocks building on gains. Boding well for corporate warnings in Japan Corporate earnings in japan. We we ending higher and sellingng for seleign for chinese stock g for ringgit stocks down. Is sliding except for the hong kong dollar. They could be under pressure given the retreat we are seeing in oil. Falling after setting the two
Coming to you live from bloombergs u. S. And asian headquarters. Im betty liu in new york. It is just after 7 00 p. M. Shery just after 7 00 a. M. In hong kong. Im shery ahn. It is great to see you, and exciting week. We do have north korean tensions continuing to rise. Top u. S. Officials speaking out a nuclear war is not imminent , but also we have americas top general making the rounds in china, south korea, japan. Also in the u. S. , so much to digest. Everything happening in charlottesville, but also the weaker than expected cpi numbers. Betty thats right. There are vigils right now being held as we speak to essentially talk about and also show emotion from that charlottesville tragedy that we saw over the weekend. There are being held all across the country. We will see how much they will affect the agenda this week, or if those headlines are going to fade. That is a live shot right now of the vigil being held at the scene of the attack by the car, the car attack in charlottesvil